Looking for advice on tenant who wants to break lease

[Howard H.]

I have a residential tenant who screened very well. Single female with 20+ years same job. 7 years in previous rental home, forced out when the house was sold. She wanted stability and asked for a 5-year lease term. She pays promptly and has presented no adverse issues. Now just shy of 1 year into the lease, she is engaged and wants to break the lease to move in with fiancee into his house. To handle this, I am leaning toward drafting a lease addendum with terms for a cash lease buy-out should she decide to break the lease early. The buy-out would cover all re-lease expenses, 1 month anticipated vacancy, and a fixed fee of some kind. The security deposit would not be allowed to be applied as part of the lease buy-out charge. That deposit or remaining portion would be returned after she vacates. I have no experience with breaking a lease and so am looking for other ideas, approaches or thoughts on my idea for how to handle this. Thank you.